Question

Forfeiture in Case of Pro-rata Allotment:-
6. Gunadhar Ltd. invited the public to subscribe 10.000 equity shares of 100 each
premium of 10 per share payable on allotment. Payments were to be made as follows:
On Application
On Allotment 40
On First Call
On Final Call 20
Applications were received for 13,000 shares, applications for 2,000 shares were rejected
allotment was made proportionately to the remaining applicants. Both the calls were mai
and all the money were received except he final call on 300 shares which were forfeited
Give Journal entries.
Ans. Forfeited Shares A/c (Cr.) 24,000]
of Shares
(J.A.C., 2013​

Answer 1

Answer:

Are you sure the question is correct?

Application and First call amount are mission sir.

Answer 2

Answer:

bank a/c dr. 260000

to share application a/c 260000